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Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2014, Steven Craig and Georgia Enterprises.Determine the missing amounts.Beginning of year:Total assets $97,000 $129,000Total liabilities 85,000 (c)Total stockholders' equity (a) 75,000End of year:Total assets 160,000 180,000Total liabilities 120,000 50,000Total stockholders' equity 40,000 130,000Changes during year in stockholders' equity:Additional investment (b) 25,000Dividends 24,000 (d)Total revenues 215,000 100,000Total expenses 175,000 55,000
Petition by creditor Any creditor including an assignee of a debt, may petition, provided: The debt due to him amounts to at least Shs 1,000; The debt is certain and i
Current analysis You will need about $150,000 in start-up costs but you can only borrow half of that amount from your family's home equity (at 13% interest). You will have to b
Question: (a) ‘Public accounting is often called fund accounting'. Describe what you understand by the term ‘fund accounting'. (b) "What's the difference between nation
Q. If a corporation declares a 10% stock dividend on its common stock, the account to be debited on the date of declaration is a. Common Stock Dividends Distributable. b. Common St
Using CAPM's formula, Return on equity = Risk-free rate + Beta*(Expected market return - risk-free rate) With the given information, Return on equity = 1% + 1.7*(9% - 1%)
On January 1, a company issued and sold a $400,000, 7%, 10-year bong payable, and recieved proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses
The common stock of Warner Inc. is currently selling at $114 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share
Sleek Ride, a company providing limo services, has a December 31 year-end date. For Sleek Ride, the following transactions occurred during the ?rst 10 days of June: a. Purchased, o
John Chan considers buying a six-month stock futures contract on the shares of Li & Fung Limited. Shares of Li & Fung Limited are now trading at $50 per share and it is expected th
how to identify deb who to credit and who to debit
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